Jim Rogers Gold 2021 A Warning

in this video i'm talking with legendary investor and adventure capitalist jim rogers and we're discussing excessive money printing and the effect that it's having on stocks bonds cryptocurrencies and of course precious metals stick around towards the end of the video jim tells us why it is that he buys physical gold and silver bullion and if you want to see more interviews like this with industry experts and thought leaders in financial markets so that you can make better investment decisions subscribe to gold core tv and hit the notification bell now [Music] now recently you have written three best-selling books and that have been published in japan and the title of one of those books is a warning to japan and you talk about the changes in the demographics in japan and the implications that's going to have for society and the economy going forward if you were to write a similar book a warning to the u.s or a warning to the eu what would you be warning them about at this moment in time well the japanese books uh were written because you know japan's population has been declining declining for 11 years now and the debt has been skyrocketing so i mean it's pretty simple you add the debt and you subtract the people it's not going to be in japan in 50 years um and this is not some opinion by some foreigner the japanese certainly don't like foreign this is just simple arithmetic i don't think in the u.s we have this we certainly have a skyrocketing debt problem the u.s is the largest debtor nation in the history of the world but we don't have a declining population if nothing else we have still having babies and we have immigration which the japanese don't likewise with europe yeah the debt is going through the roof in europe some of those countries are completely bankrupt just like the us and japan but at least you have more people yes a lot of it's immigration but immigration is usually good for a country good for a society and certainly means you don't have declining population so it would mainly be i would have to warn about the depth because throughout history you know dave this is not a good time to be young this is a great time to be old you know all the old people are going to get the advantages of all these staggering amounts of money printing and spending but they don't have to pay for it it's i got two teenage daughters all those poor girls they don't have to pay for staggering amounts of debt someday so it's a little different in quote the developed world right now than in japan and we've seen now over the last year in the in the us and in the eu massive massive masses increases in those deaths they were large beforehand but it has gone astronomical now over the last year typically particularly for the us they funded a lot of that selling their selling bonds to china we now have a situation where we've got low interest rates uh weakening dollar can they continue to fund or how do they continue to fund um their their their dash well if you ask the central bank in washington d.c they'll say don't worry they're not going to be any economic problems anymore and we've got everything under control now i know that's totally false uh i know that history is very clear that that's totally false but if you believe them i mean the head of the the treasury who used to be head of the central bank you know she's got two ivy league degrees i know she's totally wrong but they will tell you don't have to worry i will tell you that every country in history that's gotten itself into this kind of situation has had a crisis or a semi-crisis and gone into decline and unfortunately that's going to happen to the us now the one thing that might be a little bit different is whenever there's a problem people look for whatever theory is lying around you know mr marx had a great theory that a lot of people bought into for a long time wonderful theory great theory we now know it didn't work nobody wants to be a marxist anymore but at the moment there's a theory lying around called uh mmt more money today or whatever she called whatever they call it and you know that the british are doing it they're not announcing it some countries are basically just printing up the money and hoping this is all going to go away because the theory says don't worry don't worry just like mr marx but we'll probably have a lot more money printing this is not good for as i say it's good to be old it's not good to be young and obviously you know this there's political reasons as well uh for continuing the uh the mmt the more money today um uh the continuous printing that obviously has implications for various different asset markets would you agree that what we've seen in the stock market particularly again in the us the run-up in the stock market and the dow for example over 30 000 is as a result more of the money printing than it is of the fundamental performance of those companies it's almost purely the money printing you know the japanese stock market is the highest has been in 31 years because the head of the bank of japan goes to work every day runs he says he will print unlimited that's his word unlimited amounts of money and he's buying etfs and stocks and bob well i own japanese etfs and for goodness sakes if he he's got more money than i do dave he's going to buy japanese etfs i am too i mean it's insane japan read my books you'll see that japan's not going to be there in 50 years but in the meantime the japanese stock market may go back to an all-time high which it has not done since 1990 it has that much money being printed all over the world and you're a fantastic observer of markets and trends where do you see this then going over the next couple of years well i can see bubbles starting to develop it's not a full well the bond market all over the world is a bubble we've never had uh interest rates this low in the history of the world so bonds have never been this high and bonds are certainly a bubble property in some cities sold some in some cities is becoming a bubble uh stocks american average is making all-time highs but there's still lots of stocks that are not so we we're developing a bubble but it's not there yet i mean i've seen this movie before dave lots of young people are coming into the market new people are coming into the market they're talking about how easy it is they're spreading all these stories you know it's not my first rodeo i know how this is going to end but it's i don't see it now i'm not shorting at this stage because this could go on for a while probably will because there's so much money being printed and spent all over the world but there are enough signs that this is becoming to an end i mentioned some of the things that you see all the time past facts you know these things where you special interest uh companies that people just raise money with the idea they're gonna put you know that always that is often happened at the end of a bull market but it's not the boy maybe maybe the bull market is ending today but it doesn't look like to me yet i just see the signs developing so it'll probably go on for a while i got a lot of money to print so talk to me then uh about precious metals because obviously if we are seeing the inflation and asset classes like the stocks and the bonds and property as a result of this money printing precious metals gold in particular has historically benefited in situations like this maybe you might actually start by telling me about the first time that you actually got interested in golden purchase gold uh first time i bought gold it was illegal it was 1971 it was illegal for america i didn't buy a lot i went to swiss bank corporation in zurich airport bought a few slivers of gold um hit them in my closet fortunately it became illegal not too long after but i've been owning gold i've never sold any god give gold away sometimes to friends but i've never sold any uh everybody should own some gold and silver as an insurance policy if nothing else and if you're really good at it which which i'm not but if you are you know you can buy and make a and get the timing right you can make a fortune in gold and silver but everybody should own some now the academics and the politicians they will say go forget gold gold is absurd well i'm an old peasant and all of us old peasants know we want some gold over there in the closet or under the bed if and when things go wrong despite what the academics despite what the politicians say so everybody should own some gold you have you have life insurance you hope you never need it you have health insurance you hope you never need it but you better have some gold and silver and hope you never need it and you've spoken uh about the fact that you bought gold back in 2019 i don't know whether whether you're you're buying it now at the moment but in 2019 was that um because it looked good value relative to historical prices or was that kind of prescient in terms of what you saw developing in global economies i had stopped by in 2010 because it got so hot but by 2019 you know the correction had been going on for eight or nine years and you know corrections don't last forever and for whatever reason i thought i sensed that it was time for the correction to be coming to an end so i started buying gold and silver i'm not buying either rhythm i'm certainly not selling but i i plan to buy more of both especially silver silver's down 45 percent from its all-time high gold is near its all-time high so at least on a historic basis silver is cheaper right now and i will probably i know i'll be buying some more of both sometimes during the correction i don't know when i guess i should watch a gold coil find out when to buy and do you favor physical gold and silver or are you and do you also invest by etfs i have some some of both and what do you see then as the benefit of physical over the electronic form well as i said before as an insurance policy if nothing else if the whole world comes to an end they better have it over in the closet you know because electricity may close down you know vaults may who knows what may happen uh internet may close down if you have a serious serious uh disaster which has happened whether it's war or who knows what um so i have some of both get a lot more leverage obviously if you buy a listed or or traded futures or etfs called whatever you want to buy gold mines uh but i have some in the closet in case and as we kind of touch on digital currencies loosely there um crypto currencies is it something that you have been uh following are you a fan of do you have an interest in um or what's your opinion on bitcoin and the stellar run-up that we have seen of late well i wish i've owned bitcoin i've never bought or sold any of it you know no people who have and are making a lot of money i also know dave you know that there were hundreds of cryptocurren many of them have already disappeared and gone to zero we all read about bitcoin you don't read about all the ones that have already disappeared and gone away uh normally uh if well if bitcoin becomes a viable currency history would indicate that governments will then put it out of business because governments do not want to lose the monopoly and the control now that is what's happened throughout his all money is going to be on the computer it it it in china already you cannot take a taxi in china with money you have to have you have computer money like you can't buy an ice cream you can't do anything so it's already happening every country is working on computer money so it will be eventually but it's going to be their money you know the crypto guys all say well we're smarter than the government and of course they are everybody's smarter than the government but the government's got the guns i mean the government's got the tanks and if the government says that's illegal most people will not use it anymore and that's what governments have done throughout history and then obviously as we talk about our touch on control of the us dollar there um we've seen a weakening of the dollar how do you see the dollar performing going forward over the next couple of years i own a lot of u.s dollars uh it is in a correction has been for a few months which i think is a normal correction it was very strong for a while the reason i own them i've already explained the us is the largest debtor nation in world history but during turmoil people look for a safe haven and they're not many safe havens people will not buy sterling but they won't buy more euro that are going to buy the euros as a safe haven probably at that point so the us dollar is going to get overpriced mighty it could turn into a bubble of its own depending on how bad the world turmoil is at which point you i will be selling my us dollars because they've already there are many countries looking for a competitor to the us dollar both for political reasons because the us dollar they get angry at you they put you on sanctions well that's not the way international medium neutral medium of exchange is supposed to work it's supposed to be neutral but washington doesn't play by those rules which many people don't like and for economic reasons the u.s is the largest debtor nation in the history of the world so the world is looking for a competitor and throughout history no international currencies lasted more than 150 years and i'm afraid the u.s you can look over the hill and you can see that the u.s dollar is coming to an end too not not this week not this quarter but it's happening and um you're based in singapore uh so you have a keen eye on developments in the east do you see uh what currency do you see as threatening the dollar genuinely for its first position as uh reserve currency is that the chinese one well as i look around i don't see uh a viable currency for the us dollar at the moment certainly not the euro not the japanese yen i mean all the ones we can name the only conceivable one is the chinese currency but i mean hey it's not even convertible right now it's hard to have a international medium of exchange and you know trading currency if you can't even buy and sell it uh now you the chinese have been opening up the the renminbi since 2005. i mean i do it this afternoon i'm not china they don't have to listen to me but that's the only one i can see on the horizon which might eventually compete with or even replace the us dollar now i can't um leave this interview without asking the author of hot commodities about the broader commodities market uh it's a book that has um that i have i've read cover to cover a couple of times um when it comes to the broader commodities market obviously we touched on precious metals but we're seeing moves uh higher in broader commodities markets does is that something that continues in your opinion um going forward from here are we in another strong bull market for commodities well as i look around the cheapest asset class i mean bonds are in a bubble that never in history of bonds been this expensive stocks are beginning to form bubbles property in some countries i mean silver's down 45 from its all-time high sugars down 70 or 80 percent from its all-time high you know agriculture has been a disaster for for decades you know if you look around the world oil i mean oil has been rallying strongly in the last year but it's still down over 50 from its all-time high so the only the cheapest asset class i see at the moment are commodities and money printing is going on like crazy so i would suspect that commodities will continue going up for a while i mean you look at some of the fundamentals you know the world is moving toward apparently moving towards electric cars well an electric car use something like four or five times as much copper as a regular car so if we're all going to be driving electric cars somebody's got to come up with a lot more copper and that's true of lots of metals going forward but not just i mean everything agriculture energy everything and before we close actually if i can ask you one final question and that is if you were to give one piece of advice to the average investor out there um to help them prepare for what's coming over the coming years what would what would that be in relation to managing their portfolios you've got to watch gold court you've got to find out what's going on in the world because the main history shows that first of all history shows that most people don't learn the lessons of history but history shows that if you learn the lessons of history you will see that of many countries are in serious trouble and the world is facing some big problems down the road once you understand what's happening you'll become knowledge once you'll become knowledgeable and once you're knowledgeable you'll become prepared and if you're prepared you're going to come to a lot of people in the 30s dave made a lot of money even though most people disappeared and got destroyed so if you're prepared and knowledgeable you'll come through this but with no problem no problem no but not with no problem but you will you will come through it i should say jim rogers thank you for joining us on gold core tv today my my pleasure today let's do it again sometime if you enjoyed this video then check out this interview that i did with louis gav of gav cal research where'd we talk about how to prepare for the coming crash watch that video next and if you want to see more interviews with industry experts and thought leaders in financial markets so that you can make better investment decisions subscribe to goldcore tv and click the notification bell [Music] now [Music] you

Channel: GoldCore TV

Views: 17,945

Rating: 4.9168243 out of 5

Keywords: jim rogers gold 2021, jim rogers gold, jim rogers gold and silver, jim rogers, jim rogers gives the best investing advice, jim rogers interview, gold, gold price, gold price today, gold silver, gold stocks, buy silver and gold, buy silver or gold, silver 2021, silver price 2021, silver short squeeze 2021, silver, jim rogers silver 2021, jim rogers silver

Id: y2-p7EKsf-U

Length: 20min 57sec (1257 seconds)

Published: Tue Feb 23 2021

Reddit Comments

[u/BullionShortSqueeze]

Meh I'll just do silver 😁

[u/External_Pollution44]

Gotta love Jim - What a ledge!